Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

The currency pair has completed a wave of decline to 1.0760. Today the market is forming a consolidation range above this level. If the price breaks it downwards, the range could extend to 1.0703. And if the price escapes the range upwards, a correction to 1.0900 could begin. Next, a decline to 1.0700 is expected.

GBP/USD, “Great Britain Pound vs US Dollar”

The currency pair has completed a wave of decline to 1.2400. Today the market is forming a consolidation range around this level. With an escape from it upwards, a correction to 1.2550 could start. If the price breaks the range downwards, the wave might continue to 1.2350.

USD/JPY, “US Dollar vs Japanese Yen”

The currency pair has completed a wave of growth to 138.72. Today the market is forming a consolidation range under this level. With an escape from the range downwards, a correction to 137.40 could start, from where the wave could continue to 136.10.

USD/CHF, “US Dollar vs Swiss Franc”

The currency pair has reached a local goal of a wave of growth at 0.9054. The market is consolidating around this level today. With an escape from the range upwards, the wave could continue to 0.9103. If the price breaks the range downwards, a correction to 0.8888 could start.

AUD/USD, “Australian Dollar vs US Dollar”

The currency pair has completed a wave of decline to 0.6606. Today the market is consolidating above this level. If the price breaks the range upwards, the potential for a correction to 0.6660 could open. If the price breaks the range downwards, the latter might extend to 0.6595. Next, growth to 0.6700 could follow.

Brent

Brent has completed a correction to 74.45. Today the market is forming a structure of growth to 77.40. This is the first target. After the price reaches this level, a correction to 76.00 could follow. Next, an increase to 80.50 is expected, from where the trend might continue to 85.00.

XAU/USD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1952.00. Today the market is forming a consolidation range above this level. The range might extend to 1965.65. If the price breaks it downwards, a link of decline to 1945.60 is not excluded. With an escape upwards, a correction to 2012.00 could begin. Next, a decline to 1900.00 could follow.

S&P 500

The stock index formed a consolidation range around 4161.5. Breaking it upwards today, the price reached 4210.0. A link of correction to 4161.5 is expected. Next, a link of growth to 4215.5 is expected, followed by a decline to 4050.0.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

GBP/USD clings to 1.3500 amid marginal losses

GBP/USD alternates gains with losses around the 1.3500 neighbourhood on Tuesday. Indeed, Cable struggles to further extend its incipient recovery in a context of continuous instability in the Middle East and modest gains in the Greenback.

EUR/USD alternates gains with losses near 1.1540

EUR/USD navigates a tight range near 1.1550 in the latter part of Tuesday’s NA session. The US Dollar’s vacillating price action accompanies the pair while market participants gear up for the crucial US inflation data due on Wednesday.

Gold loses the grip below $4,400

Gold retreats from its earlier tops and briefly revisited the $4,350 region per troy ounce on Tuesday. The yellow metal’s modest retracement follows lacklustre gains in the US Dollar and declining US Treasury yields across the curve, all amid steady uncertainty from the geopolitical landscape.

Shiba Inu Price Forecast: SHIB extends sell-off despite surging futures Open Interest

Shiba Inu (SHIB) maintains a bearish outlook on Tuesday, as it edges lower at $0.00000450. This marks the seventh day the meme coin has sustained a sell-off, weighed down by a weak technical structure. Shiba Inu derivatives continue to gain momentum, with perpetual futures Open Interest (OI) rising to 11.08 trillion SHIB on Tuesday, from 10.46 trillion the day before.

The inflation narrative is still way more important than the employment story

Core bonds sold off yesterday with the belly of the curve slightly underperforming in the US while European curves showed more of a bear flattening. Daily changes on the US curve varied between +4.7 bps (2-yr) and +6.4 bps (7-yr).

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.